Wednesday, November 2, 2011

Peace deal pushes Nepse up?

The prospect of logical conclusion of peace process has lifted the spirit of investors pushing the share market up by 16.61 points today.The index that stood at 330.21 points as the stock market opened for business surged to 346.82 points as the market was shut down by the operation of third circuit breaker before one hour of regular trading. The stock prices of the listed companies went through massive surge today so that the circuit breakers were triggered for three times."The political consensus of yesterday has been received as harbinger of better times in the capital market so the investors purchased shares even paying a little higher with the expectation for future increment in share price," said president of Stock Brokers Association of Nepal (SBAN) Anjan Raj Poudel.However, some experts doubt the sustainability of market. They claimed that some of the big investors might have taken benefit as they were waiting to exit from the market. “If the market continues to look up, then only we can claim that the peace deal has boosted market confidence,” they added.